What Bridgewater’s Ray Dalio Says About Market Impact of Russia’s Invasion of Ukraine (TheMiddleTownPress)
The founder of the world’s largest hedge fund has been closely following the Russian invasion of Ukraine, and his concerns are likely shared by many of his counterparts in the Connecticut investment community. Westport-based Bridgewater Associates founder and co-chief investment officer Ray Dalio’s commentary on the war suggests that a large number of investors are examining the impact of sanctions imposed on Russia and other economic repercussions of the invasion. But how the fallout from the conflict will affect investment firms such as Bridgewater will depend heavily on their respective strategies.
Hedge fund Man Group has cut exposure to Russia – CFO (Reuters)
LONDON, March 1 (Reuters) – Hedge fund Man Group cut its investments in Russia in recent weeks and now has ‘negligible’ exposure to Russia and Ukraine across its portfolio, its Chief Financial Officer Antoine Forterre told Reuters on Tuesday. The London-based fund first cut exposure to the region in its discretionary emerging markets fund in December, he said, before the hedge fund’s other strategies began reducing risk in the last two weeks.
Greenlight Surged in February as Markets Kept Falling (Institutional Investor)
The hedge fund headed by David Einhorn has been outperforming since last fall. Greenlight Capital is on a roll. The hedge fund headed by David Einhorn posted a 6 percent gain in February and is now up 5.5 percent for the year, according to a person who has seen the results.This compares with February losses of more than 3 percent posted by the S&P…
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Othania Grows on Anniversary (Hedge Nordic)
Stockholm (HedgeNordic) – As Othania Capital celebrates its sixth anniversary this March, the Danish boutique asset manager founded by the Larsen brothers has announced the hiring of Henrik Theis Jensen as Customer Manager. Jensen is Othania’s first permanent employee in addition to Vincent Dilling-Larsen and Christian Mørup-Larsen, the brothers who founded Othania Capital in early 2016.
Lampert Retires as Seritage Chair as REIT Explores Options (Bloomberg)
Hedge fund billionaire Edward Lampert stepped down as chair of Seritage Growth Properties as the real estate investment trust that emerged from the Sears bankruptcy reviews strategic alternatives. New York-based Seritage, the owner of 170 residential, retail and mixed-use properties in the U.S., has hired Barclays Plc as its financial adviser, according to a statement Tuesday. The REIT is in the early stages of its strategic review and said it wouldn’t comment further on the process.
Hildene Capital Management partners with Leucadia Asset Management (Hedge Week)
Hildene Capital Management (Hildene), an asset management firm focused on distressed and event-driven opportunities within credit, has entered into a strategic relationship with Leucadia Asset Management (LAM), a division of Jefferies Financial Group Inc. In connection with the transaction, LAM will acquire a non-controlling financial interest in Hildene and will help seed certain new Hildene vehicles and businesses.
Per Johansson Starts as Celina CIO (Hedge Nordic)
Stockholm (HedgeNordic) – Bodenholm founder Per Johansson takes on the role of Chief Investment Officer (CIO) of what is now called Celina Fondförvaltning, formely Catella Fondförvaltning, as of February 28. He will also be part of the team managing Celina’s flagship hedge fund, Catella Hedgefond, and equity funds Catella Småbolagsfond och Catella Sverige Aktiv Hållbarhet.
Ken Griffin Talks Russia, Market Chaos and a Move to Go Public (Bloomberg)
Ken Griffin has encountered multiple challenges since founding Citadel three decades ago, including the 2008 financial crash that came close to imperiling his firm. Now, the world is facing a very different order of threat with Russia’s invasion of Ukraine. Griffin spoke on Friday in Chicago for an episode of “Bloomberg Wealth with David Rubenstein” about the fallout in markets, the negative ramifications that current U.S. sanctions are likely to have on American technology firms and the dollar, and the importance of ending Europe’s energy dependency on Russia.
Tuesday 3/1 Insider Buying Report: APA, STXB (Nasdaq.com)
At APA, a filing with the SEC revealed that on Friday, Director Chansoo Joung bought 40,000 shares of APA, for a cost of $32.92 each, for a total investment of $1.32M. Joung was up about 13.7% on the buy at the high point of today’s trading session, with APA trading as high as $37.43 at last check today. APA is trading up about 3.1% on the day Tuesday. This buy marks the first one filed by Joung in the past twelve months. And at Spirit of Texas Bancshares, there was insider buying on Thursday, by Director Robert S. Beall who bought 25,000 shares at a cost of $27.00 each, for a trade totaling $675,000. This buy marks the first one filed by Beall in the past twelve months. Spirit of Texas Bancshares is trading off about 1.6% on the day Tuesday. So far Beall is in the green, up about 6.9% on their purchase based on today’s trading high of $28.86.
Meta Investor Accuses Zuckerberg Of $2.5B In Insider Trading (Law 360)
A Meta Platforms Inc. shareholder has filed derivative litigation accusing the Facebook successor’s founder of pulling in more than $2.5 billion with insider sales just before, and while, a set of scandals rocked the social media giant last fall. The complaint filed in California federal court on Friday aims to hold the company’s directors and executives, including CEO Mark Zuckerberg, liable for plunges in Facebook’s stock price that accompanied explosive whistleblower allegations about the social media site’s effects on children and efforts to stop the spread of misinformation.
